Managing Risks to reputation – From theory to practice Risks to reputation are not anymore part of the emerging risks; in fact‚ they have been on the risk management radar for over a decade now. However‚ the last year of this first decade of the 21st century seems to have seen a burst of incidents all over the economic spectrum that tainted the reputation of even well established companies. BP suffered their third blow of the decade with the oil spill in the Gulf of Mexico‚ Toyota product
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Theory Z is a management philosophy that stresses employee participation in all aspects of company decision making. It was first described by William Ouchi in his book Theory Z- How Man American Business Can Meet the Japanese Challenge. Theory Z incorporates many elements associated with the Japanese approach to management‚ such as trust and intimacy‚ but Japanese ideas have been adapted for use in the United States. In Theory Z organizations‚ managers and workers share responsibilities; the management
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and authority are closely related but theoretically different concepts (Faeth 2004). The exercise of power is legitimated through authority (Weber 1947) and Weber was the first to develop a systematic version of these terms as keystone of his social theory. Lewin (1941) developed the study of leadership by introducing the concept of social power in terms of the differential between interpersonal force and resistance. French and Raven described five sources of power namely reward power‚ coercive power
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Research Essay (Essay Plan) 1. Outline classical theories of motivation and illustrate their application in different business situation. Discuss their usefulness to the 21st century business manager. Part 1: Introduction * (Why) are theories of motivation still relevant to the 21st century business manager? In today’s market‚ organizations always put pressure on enhanced communication‚ globalization and improved technology to find variety of ways of winning business. (Dransfield‚ 1996:
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Jean Piaget Cognitive Development Theory Biography: Jean Piaget was born in Neuchatel‚ Switzerland on August 9‚ 1986 to Arthur Piaget and Rebecca Jackson. At a young age‚ he displayed great fascination for Biology‚ his intellectual love. Jean Piaget‚ at the age of 10 published his first article‚ which described the albino sparrow he observed. Between the ages of 15 and 18‚ he published several more articles and most of them are mollusks. Jean Piaget was especially
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Theory X and Theory Y Douglas McGregor (1906 - 1964) is one of the forefathers of management theory and one of the top business thinkers of all time. He was a social psychologist who became the President of Antioch College. He later became a professor of management at Massachusetts Institute of Technology (he was succeeded by Warren Bennis). His book The Human Side of Enterprise (1960) had a profound influence on the management field‚ largely due to his Theory X and Theory Y. McGregor developed
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motivation theory is concerned with the processes that describe why and how human behavior is activated and directed. They try to explain why people make the decisions that they do and how they motivate themselves and others to improve behavior. There are two different categories of motivation theories such as content theories‚ and process theories. Even though there are different motivation theories‚ none of them are universally accepted and each being unique. Overview of Motivational Theories Motivation
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Theories of Motivation 1. Instinct Theory The assumption of the theory is that there is an innate biological force causing an organism to act in a certain way. These “forces” are perceived to be automatic‚ involuntary‚ and unlearned behavior patterns or reflexive behaviors that are elicited when certain stimuli are present. 2. Homeostatic Theories The assumptions of the homeostatic theory are that organisms attempt to maintain homeostasis‚ the balance of physiological state or equilibrium
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Theory X and Theory Y represent two sets of assumptions about human nature and human behavior that are relevant to the practice of management. Theory X represents a negative view of human nature that assumes individuals generally dislike work‚ are irresponsible‚ and require close supervision to do their jobs. Theory Y denotes a positive view of human nature and assumes individuals are generally industrious‚ creative‚ and able to assume responsibility and exercise self-control in their jobs. One would
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thought‚ but in how it develops and understanding how genetics impact this process. Vygotsky’s Sociocultural Theory: Vygotsky is best known for being an educational psychologist with a sociocultural theory. This theory suggests that social interaction leads to continuous step-by-step changes in children’s thought and behavior that can vary greatly from culture to culture. Basically Vygotsky’s theory suggests that development depends on interaction with people and the tools that the culture provides to
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